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  5. Interim Management Statement

Pin to quick picksREG.L Regulatory News (REG)

REG.L Information
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Interim Management Statement

14 Nov 2008 07:30

RNS Number : 1552I
Regent Inns PLC
14 November 2008
 



14 November 2008 

REGENT INNS PLC 

INTERIM MANAGEMENT STATEMENT 

Regent Inns plc ("the Group") announces its interim management statement for the period from 29 June 2008 to date, as required by the UK Listing Authority's Disclosure and Transparency Rules. 

Trading in the first 15 weeks of the reporting period was commented on in the Chairman's statement accompanying the Group's financial results for the 52 weeks ended 28 June 2008, under 'current trading and prospects', as reported on 16 October 2008. 

Key points relating to the 15 weeks trading period to 12 October 2008: 

like-for-like sales down 13% on last year
the comparable period included some strong trading during the Rugby World Cup
substantial cost savings have been implemented including the major restructure of head office that took place in July 2008. Capital expenditure during the current financial year will be no more than £5m.
our lending banks have been very supportive and our banking facilities (which do not expire until September 2010) have recently been revised in order to ensure they are appropriate for our current circumstances. As a result of these revisions, total facilities currently available to the Group are £96.5m and the cost of borrowing has increased substantially (although the recent reductions in base rate will help to mitigate this increase).

Subsequent to 12 October 2008, like-for-like sales trends are unchanged.

The Group expects to provide a further trading update on 17 December 2008, at its Annual General Meeting. 

Enquiries: 

Regent Inns plc 020 8327 2540

Jim Glover, Chairman

John Leslie, Chief Executive Officer 

Merlin 020 7653 6620

Paul Downes 07900 244 888 

Anja Kharlamova 07887 884 788

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSFFUFADSASEEF
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28th Apr 200910:49 amRNSDe-Listing Document Availability-Amend
28th Apr 200910:29 amRNSHolding(s) in Company
28th Apr 200910:01 amRNSDe-Listing Document Availability
28th Apr 20098:00 amRNSProposed De-Listing
24th Apr 20094:40 pmRNSSecond Price Monitoring Extn
24th Apr 20094:35 pmRNSPrice Monitoring Extension
24th Apr 20097:59 amRNSResponse to Press Comment
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31st Mar 200910:54 amRNSDisposal
27th Feb 20098:00 amRNSHalf Yearly Report
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23rd Jan 20095:56 pmRNSHolding(s) in Company
17th Dec 200811:47 amRNSResult of AGM
17th Dec 200811:46 amRNSAGM Statement
21st Nov 20083:46 pmRNSDirector/PDMR Shareholding
19th Nov 20081:53 pmRNSAnnual Information Update
17th Nov 200811:25 amRNSAdditional Resolutions
14th Nov 20087:30 amRNSInterim Management Statement
10th Nov 200810:05 amRNSAnnual Report and Accounts
3rd Nov 20088:00 amRNSDirector/PDMR Shareholding
29th Oct 20088:58 amRNSAnnual Report and Accounts
16th Oct 20087:30 amRNSFinal Results
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